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FILE - in this file photo taken on Tuesday, Aug. 21, 2018, a woman holds a poster showing the raise in the pension ages from 60 to 65 for men and to 63 for women, up from 55 during a rally protesting retirement age hikes in front of the Russian State Duma, the Lower House of the Russian Parliament in Moscow, Russia. The hike in the retirement age was long overdue in Russia. The country's ageing population and a shrinking workforce means that the government spends more and more on pensions every year. This year alone, Russia is earmarking 3.3 trillion rubles ($48 billion) on old-age pension, which is even higher than Russia's defense spending. (AP Photo/Alexander Zemlianichenko)

FILE - in this file photo taken on Tuesday, Aug. 21, 2018, a woman holds a poster showing the raise in the pension ages from 60 to 65 for men and to 63 for women, up from 55 during a rally protesting retirement age hikes in front of the Russian State Duma, the Lower House of the Russian Parliament in Moscow, Russia. The hike in the retirement age was long overdue in Russia. The country's ageing population and a shrinking workforce means that the government spends more and more on pensions every year. This year alone, Russia is earmarking 3.3 trillion rubles ($48 billion) on old-age pension, which is even higher than Russia's defense spending. (AP Photo/Alexander Zemlianichenko)

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